Wednesday, May 27, 2015

Does anyone know what will happen with a gift for a FHA loan that can not meet the guidelines?


Does anyone know what will happen with a gift for a FHA loan that can not meet the guidelines? - 1
Added (1). Because the gift was either from the seller or was cash. The seller is actually family. We are trying to buy home and now we are running into this problem. I have heard that the money amount of the gift will only end up being deducted from the sale of the house which also means that the loan will decrease too. Also if the loan and the price decreases will what we have to pay at closing cost stay the same or increase or decrease. Thank you and only serious answers please.

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